FINRA Bars Thrivent Stockbroker Over Dead Client’s Estate

Daniel Joseph Arcuri Jr. of Greensburg Pennsylvania a stockbroker formerly registered with Thrivent Investment Management Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity according to a FINRA Office of Hearing Officers Decision containing findings that he neglected to respond to a FINRA Department of Enforcement Complaint containing allegations of his failure to testify about undisclosed outside business activities. Department of Enforcement v. Daniel J. Arcuri Jr. Disciplinary Proceeding No. 2017056688202 (Feb. 7, 2020). According to the Decision, Arcuri showed up on FINRA’s radar around the time that he was terminated from Thrivent Investment Management for misconduct. Arcuri was alleged by the securities broker dealer to have participated in an outside business activity involving a deceased client’s estate without Arcuri disclosing that information to the regulator. An investigation was opened into Arcuri’s activities which in part included a review of the outside business activities that Arcuri allegedly engaged in. FINRA also sought to determine if the stockbroker misappropriated funds belonging to a customer. Arcuri was subsequently contacted by FINRA on June 20, 2019 with instructions to testify as to the allegations of his misconduct but the stockbroker neglected to respond to FINRA’s correspondence. After the regulator’s second unsuccessful attempt at getting Arcuri to testify, FINRA Department of Enforcement filed a Complaint alleging that he violated FINRA Rules 8210 and 2010. FINRA’s Office of Hearing Officers found that Arcuri’s failure to respond to the Complaint rendered him in default and so it found that the stockbroker obstructed a FINRA investigation. His punishment was a permanent bar from the securities industry. Arcuri was registered with Thrivent Investment Management between September 2, 1992 and December 8, 2017.